Hot Real Estate Market in Mexico Beach

First let me tell you----------the weather has been gorgeous all week! Cool in the mornings and evenings and beautifully warm in the middle of the day! A little breezy for those who like to fish, but.......................................

Let me put numbers to it---60's in the mornings and evenings and mid 70's to 80 degrees in the day! I LOVE THIS TIME OF YEAR!

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As for the real estate market.........MAN ITS BEEN BUSY!

FIVE properties put under contract in the last week in Mexico Beach to St. Joe Beach.

• Two fixer uppers a couple of blocks back in the $199,000 listing price.
• A 1580 sq ft house on 2 lots in St. Joe Beach, that really needs no work. Listed at $229,900. Short sale.
• A 2,000 Sq ft house with a great screened in pool listed for $329,000. St. Joe Beach area.
• A lot in a subdivision in Mexico Beach, listed for $55,000.

There are more deals being negotiated as we speak!!!!

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Tranquil Harbor Auction is May 2nd, this Saturday. It seems as if the consensus among the lookers has been $150,000- $250,000! I think that would be a deal for sure!

Don't forget at auctions you have to add a 10% buyers premium on top of your winning bid!

If interested let me know. I can show all units anytime!

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There is another auction schedule for June 6th. A couple gulf front homes, a large home on several acres on the north side of Hwy 98, a vacant lot 1/2 block from the water as well as a single family home 1/2 block from the water.

I'll be glad to send you information upon request!!!!!

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As always, have a great week. Don't hesitate to call/email me with any questions about ANY property in the area!

And remember...................The shortest distance between a problem and a solution is the distance between your knees and the floor.

Mary

850-896-5222

www.maryblackburn.com

April has been Busy!

I apologize for not blogging regularly this month. Honestly, it has really been busy and Monday's are notoriously crazy. It seemed that by the time I slowed down it was Thursday and then it picked right back up again!

I'm not complaining...BUSY IS GOOD!
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TWELVE properties have been put under contract this month so far. And I know of several offers that are in negotiations as we speak, so I'm sure we have several more that will be contracted in the next few days!


This is just for Mexico Beach to St. Joe Beach. By far our busiest month and the season is just getting started!

Listing prices of those under contract start at $135,000 and go to $899,000 and include a mobile home, a couple townhomes, 1/2 duplex, and single family homes. Only 3 of the properties are beach side of hwy 98.

Five of the eleven are short sales.

We've had 4 closings.


A mobile home just 2 blocks from the beach. Needed work. Sold for $92,000.

A mobile home in St. Joe Beach in St. Joe Beach closed for $125,000

A 1700 sq foot home just 2 blocks from the beach, 2 lots, detached garage sold for $230,000.

A newer home with 1680 sq ft just a couple houses from the water sold for $283,500.
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I was watching Fox news last night (which is pretty much on at our house 24/7). Wayne Rogers, who I believe lives in the Destin area now, was on Neil Cavuto. He was saying that the real estate market in the panhandle was definitely picking up. He felt we were at the bottom. He also said it could take several years before we started seeing some real appreciation just because there is such a large inventory of homes for sale.
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What is encouraging to me is that the majority of my buyers are middle class folks that have been enjoying Mexico Beach for years and are finally able to buy!!!

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As for the Cape: Three properties have been put under contract in April. Two are short sales.

All have Gulf view, one is gulf front. Listing prices starting at $250,000 to $479,000.

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As for Port St. Joe: Two properties have been put under contract in April. Two single family homes listing at $12,900 and $139,000

Port St. Joe had 2 closings in April:

Single family with 980 sq ft, remodeled. Listed at $99K, sold at $85K.

A larger newer single family: Listed at $175K sold at $150K. This was a short sale.

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There are still deals out there and we still have a large inventory of properties on the market. If you are in the market to buy, please give me a call!!!

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Have a great week! My motto this week is "I'm too blessed to be stressed!".

Mary

850-896-5222

http://www.maryblackburn.com/

Sundance Realty

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Wild Weather Mexico Beach Florida

Wow, looks as if everyone has been having some pretty wicked weather!

Friday and Saturday we were under tornado warnings. We had severe thunderstorms with winds up to about 50-60 mph!!!!


We really needed the rain, so I'm not complaining. The wind was a little much though.


Sunday was sunny but still windy and a little cool. There were some hardy souls laying out on the beach though!
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Not a lot of activity on MLS this past week.


A gulf front home with about 2,700 sq feet out on the cape went under contract. Listed at $799,000. Advertised as a short sale.


A mobile home on 2 lots in St. Joe Beach went under contract with a list price of $149,900.


A gulf front lot out on the cape went under contract with a list price of $450,000.


The only sale that closed last week was a small lot in Port St. Joe, 75 X 96, for $32,000.
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There have continued to be lots of showings though! We are finally showing some beach side townhouses and even a few condos. Most of the sales for the past year have been single family homes. Just recently have we had a renewed interest in beachside townhomes and condos.

Of course, we are just now entering our best selling season!

Investors are starting to enter the scene again, a sign that they feel we are at the bottom.
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Banks are only lending 80% on a 2nd home now. Your credit score has to be in the high 700's.


If you are buying a primary home lending is still at 90-95% though!!!
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If you have any interest in the Tranquil Harbor, Canal front condos in Mexico Beach, just let me know. This is a brand new condo complex that is now bank owned. The bank is auctioning off 10 units at an absolute auction May 2nd. They have 2,3, 4 bedroom units each comes with a boat slip.

Let me know if interested and I'll send you all the information I have.

They, of course, are vacant and I can show them to you anytime!!!


There will be some gulf front lots out on the cape auctioned off at the same time. I'll be glad to send you that information as well!
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In talking to an auction company (not the one auctioning off Tranquil Harbor) over the last week, I find it interesting that his company was no longer doing many "on-site" auctions. He said they rarely made any money because attendance was extremely low and buyers were only wanting to low ball!!!

His company has now gone almost exclusively to "on-line" auctions.


In a buyer's market, I think that you have to expect that buyers are only looking for a good deal!
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Spring breaks have started and our traffic has picked up! We are just now entering into our best selling season. With the amount of traffic we've already had + the increased email inquiries over the last couple of months and people making plans to look at properties, I really think we are going to have a good season.
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I'll be sending out my monthly newsletter toward the end of next week. I'll give you the monthly sales statistics as well as what I think are the best buys. If you are not on my email list, just send me a quick email and I'll add you. If you are on my list and have not received the newsletters, let me know. It may be I have to send it a different way!

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Lots of events, activities coming up so keep an eye on my calendar.

Please don't hesitate to call/email me with any questions about the area and/or real estate!


Thanks for reading my blog!



Have a great week and remember.........................

"Be kinder than necessary because everyone you meet is fighting some kind of battle."



Mary

http://www.maryblackburn.com/

Spring Break Mexico Beach Fl

We've got quite a few families in for spring break! And the weather has really cooperated! It's been absolutely gorgeous!









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There is a new upcoming auction! Tranquil Harbor, which is a canal front condo complex, is now bank owned and they are auctioning 10 units May 2nd. Each unit has a boat slip.

If you want more information or are interested in registering, let me know and I'll send you the information.

These is a brand new complex with pool, elevator, boat slip. They are auctioning off 2, 3, and 4 bedroom units.

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We have been busy this last week!!! Lots of showings!

Five properties were put under contract last week in Mexico Beach alone!

• An old double wide mobile home that needs a lot of work but is a straight shot to the beach only 2 blocks away. Listed at $109,900.
• A nice home with over 2300 sq feet across from dedicated beach. Listed at $565,000.
• A 1994 home in the 2nd blk to the beach, 1700 sq feet, 2 lots, garage. Bank owned. Listed at $285,000.
• A newer home in the first block to the beach, 1680 sq feet. Listed at $299,000.
• A large home across from dedicated beach that needs work. Bank owned. Listed $574,900

That's a lot of activity for a 1 mile square strip of beach AND we are just NOW getting into the most active selling season!!

All of these properties are being purchased by end-users, not investors. They are middle to upper class working people who are finally able to purchase a 2nd home at the beach!!!

If you don't think its the bottom of the market, please let me know why!!!

If you are an end-user still sitting on the fence but have the desire and ability to buy now, please let me know what is stopping you-----and I really want to know, that's not a rhetoric question!!!

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Interest rates are now at a national average of 5.06% for a 30 year note. 4.76 % for a 15 year note!! Suntrust and Wachovia are both advertising 4.90 and 4.89% for 30 year notes!!!

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I'm working on updating the foreclosure list for all areas here. Let me know you want one and I'll email it to you!!

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Have a great week!

And remember......."Don't take yourself so seriously. No one else does!!"

Don't hesitate to call me anytime!

Mary

http://www.maryblackburn.com

850-896-5222

Toucan's Restaurant Sold at Auction Mexico Beach Florida

Below is an interesting video I found on You tube. I'm not the only one saying its a great time to buy.




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The Toucan's Auction was last Thursday! Quite the crowd, but only 4 actual bidders!
The winning bid was $3,450,000 + a 10% buyers premium which the auction company adds on, bringing the total purchase price to $3,795,000!
I think that was a good buy!
The new owner has plans of continuing the restaurant!

The Harmon gulf front house and lot sold for $785,000 (It might have been $780K) + 10% buyers premium. A gulf front house + gulf front lot for $863,000 might seem like a steal but...........keep in mind the house sits on the edge of that canal---a constant source of erosion AND its right next to Toucan's (karoke every Friday and Saturday night?????)
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MLS has actually been a little slow this past week. Not a lot of new listings, not a lot of properties going under contract. There have been a lot of showings and some offers tossed out which is always the way it starts, so I'm not complaining!

You have to start somewhere and everybody knows this is the time to start low.



Sellers who really want to sell this year are just going to have to realize their property is not going to command the price that it did at the height of the market a couple of years ago. I have no problem with sellers sticking to a certain selling price, however, if the market will not bear that price right now, there really is no need to have it on the market. Values will appreciate again, we just have to get rid of some inventory first!



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A unit in a beachside triplex closed last Friday for $165,000!!! I think that was a great buy!
It was an older 2 bed/2bath unit with a stone's throw to the water!
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The beautiful weather has brought lots of visitors this past weekend! It really has been the first weekend we've seen sun bathers and swimmers in the water! It was great to finally put on sleeveless shirts/shorts and flip flops without wearing a jacket as well!!!!

I'm just praying we are over the cold spells!!!!



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Chip is getting his boat ready to start fishing! He's already booking trips for June and July so don't wait to long if you are thinking about planning a fishing expedition!

http://charterboat-missmary.com/



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There are real estate deals to be had, so let me know what you are looking for and I'll start the search!

Please don't hesitate to contact me if you have any questions about real estate anywhere in the Mexico Beach, St. Joe Beach, Port St. Joe, Cape San Blas, or Windmark Beach area!



Have a great week!

And remember......"Life isn't fair, but it's still good!"



Mary

850-896-5222

http://www.maryblackburn.com/

Mexico Beach FL Real Estate

What a gorgeous weekend we had! Temps in the low 70's in the middle of the day, cool mornings, cool evenings!





Lots of beach goers this weekend!

I even saw some swimming--a little early for that for me but..............

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Despite the awful economic news and horrid unemployment rates last week we have had some action in the real estate front!

Three residential closings since March 1:

Gulf front home out on the cape for $475,000. This was bank owned and I think a Steal!

An older townhome in St. Joe Beach (Gulf Aire Subdivision) for $112,500.

A half duplex, gulf front for $399,000.

AND EVEN BETTER NEWS:

6 properties have been put under contract since March 1st.

2 homes in Port St. Joe!

4 home out in the Cape area!

There are other offers still negotiating.

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I do have an updated brochure of all foreclosures and short sales for those that request!!

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Interest rates can be as low as 4.75% now!!! Buyers with good credit and money down can get some pretty cheap money!!!

Buyers with cash are investing in real estate again, as long as you are in it for the long term, what a great opportunity to get some good deals!!

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Please don't hesitate to call and ask me any questions about any properties you see in the Mexico Beach, St. Joe Beach, Beacon Hill, Port St. Joe, Cape San Blas areas!

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Have a great week!

Mary

850-896-5222

http://www.maryblackburn.com

Can't Believe March is Here! Mexico Beach Florida

DON'T FORGET NEXT SUNDAY, MARCH 8TH IS DAYLIGHT SAVINGS TIME. Time to spring ahead!!!!

34 degrees as I write this this morning. Only a high of 55! By the weekend we are to be in the low 70's. At least it's sunny---makes a lot of difference!

I could be in my hometown of Erie, Pennsylvania where the high for today is 19!!!!
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Wow, its been quite a week in real estate! We have literally been showing property 5 days a week here!! Reminds me of the good old days when I'd have to cancel doctor's appointments because I had to show property!



There are people calling/emailing in almost everyday scheduling trips to come and look at property---it is so encouraging. And quite amazing to me!!!! Listening to the news you would assume we were all on the verge of disaster!


For the most part these are definite buyers not just tire kickers!


It might be that people are deciding to put their money in real estate as opposed to the stock market?????


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Since I last blogged last Monday, 4 properties have gone under contract out at the Cape. All were either Gulf front or gulf view and all except one were short sales!!


Just to remind you---a short sale is when the seller owes more than what they are asking. The seller then has to negotiate with their lender to take less and release them from the mortgage. This is usually a lengthy process so buyers need to be patient!!! Banks do not conform to our policy of "time is of the essence"!


As for closings. Last week a modular house on the cape closed for $100,000! A mobile home in Mexico Beach for $95,000, and a beach cottage with unobstructed gulf view for $297,000 in St. Joe Beach. A gulf front house out on the cape closed as well, although the sales price has not been posted yet.


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I have now comprised a separate list of foreclosures and short sales for the Cape San Blas, one for Port St. Joe and then one for Mexico Beach and St. Joe Beach. The cape has the most by far, and it will take a while to download, so I'll only send this at your request!!!
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I will be sending out my monthly newsletter tomorrow. The most interesting statistic, and definitely worth repeating in the newsletter is.....................The average sales price, when compared to January and February of 2008, is DOWN a whopping 43%!!!!!!!

And the number of transactions is UP a whopping 42%!!!!!


Of course that makes sense, prices are down, people are buying!!!!!


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I'll highlight some other stats for the month of February in my newsletter tomorrow as well as provide you with what I think are good deals and other miscellaneous information. If you are on my email list and have not received the newsletter in the past, it may be because it is registering as spam. Just let me know and I'll send it another way.
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Have a great week! Don't hesitate to call/email me anytime if you have any questions about any property in the area. You can see all properties on the market on my website by clicking on property search. http://www.maryblackburn.com/
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Remember.....God loves you because of who God is, not because of anything you did or didn't do!!!


Mary

850-896-5222
http://www.maryblackburn.com

Real Estate in Mexico Beach Florida

Brrrr, little chilly this morning! 38 when I came to work this morning. I thought we were all over this cold stuff! I like 70 and over weather!!! At least its sunny!

My prayers go out to the good folks in Thomasville, GA. I heard they had a pretty brutal tornado last week. Thank God, no one was hurt, but a lot of damage done.

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Below is a link to a website that gives information about the stimulus bill for first time homebuyers.

http://www.federalhousingtaxcredit.com/2009/faq.php

A different part of the stimulus bill has to do with higher priced financing.

Below is a statement from Brian Robinson, a mortgage consultant for Wells Fargo.

"While details are sketchy - we will expect to get some clarity soon as to an additional tier of conforming loan amounts which had been first established in 2008. This tier of home loans are those greater than $417,000, and with a maximum that depends on the area, but is not greater than $729,750. These loans would be eligible for rates that are slightly higher than conforming loan rates, but less expensive than the standard "jumbo" loan rates. "

This is good news for those wanting to financing a large amount.

Fixed rates for 30 year notes have been around 5-5.4%. Jumbo rates have been 6.2-6.7%

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In the real estate world of Mexico Beach, St. Joe Beach, 2 properties have gone under contract since last Monday. One closing of a gulf front condo (all great deals!!!).

We are all showing lots and lots of property. Offers are being made, usually pretty low offers, but you have to start somewhere!!!!

There are lots of buyers out there. I find it encouraging that we are showing so many properties----if you were to only listen to the news you would assume everyone is destitute!!!!

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Everyone wants a good deal. What is a good deal? In my opinion, you have to include a few things to determine a good deal. #1 is fair market value. Your realtor can find all comparable sales in the area to help determine that number. However, that is not the only factor. #2. Does it suit your needs? If its a property that you are going to use and enjoy for the next 5 years, then that adds value as well! #3. Is it affordable for you? If you can afford it and it meets criteria 1 and 2, then I think its a good deal.

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Mexico Beach is alive and well! There are at least 3 new homes going up in Mexico Beach alone (I'm not including spec homes that are being built just to sell).

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I'm working on updating the foreclosure and short sale list. I am now including Port St. Joe and Cape San Blas.

If you are interested just send me a quick email and I'll get it out to you as soon as I am finished (hopefully later today!)

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Have an awesome week! Please check out my website calendar of local events. You can also search for all properties on the market in this area. http://www.maryblackburn.com/

Don't hesitate to call me if you have questions about any properties you see whether they are my listings or not!!

Mary

850-896-5222

Greetings From Mexico Beach, Florida

Another gorgeous day in Mexico Beach! The Gumbo Cook-off was Saturday and although it rained (rain is an understatement!) we had a fantastic turn out! The competition was fierce AND delicious and fun was had by all.

Below is just a little video from my vantage point at the Sundance Realty gumbo booth (we won a people's choice award!!---just kidding).

Below is a link to you tube to see the video.

http://www.youtube.com/watch?v=TT8xx2L1G-Y

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So, the stimulus package...........They have decided to boost the housing market by offering homebuyers a 10% tax credit on their home purchase. BUT, its 10% up to $8,000. And its for first time homebuyers only. AND, you can't make over $150,000 for couples or $75,000 for individuals. AND, you can't sell the home for 3 years or you have to repay. AND you have to purchase it before November.

I believe the definition of first time homebuyer is someone who hasn't owned a home for the past 3 years.

I'm all for a tax credit because I do think it well get some buyers off that fence. Not many, but a few. And I really don't mind the stipulation of having to keep the house for 3 years, because that will rule out the investor.
But I really don't think there should be a income restriction. Why penalize people who make a great income????

I don't think this is going to have a huge impact on the housing market! What do you think?

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Cypress wood is not only gorgeous but expensive! Below is a link to a neat little story about the guys who dive for it. Brothers River is north of Mexico Beach.

Just a little local flavor for you!

http://gardenandgun.com/galleries/photos/swamp-men

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Oh yeah, the real estate market......................Lots of activity the past week. Lots and lots of lookers, offers being thrown out, and I believe at least 2 properties went under contract just this weekend! Doesn't sound like much but remember, we are talking just about Mexico Beach and St. Joe Beach, so a pretty small area!

Listing prices are still all over the place. Unfortunately, we still have sellers who insist on putting their properties on the market at ABOVE market value.........WAY above. I don't understand why! It doesn't do the seller any good and it just confuses any potential buyers!

No one can tell where the bottom is when our listing prices are all over the place.

We did have a closing on a nice home across from dedicated beach (unobstructed water view). It closed at $520,000. This was not a distress sale at all, so it really provides a good fair market value!!!

Those sellers that really want to sell are becoming more and more reasonable----properties that are priced right are getting shown and getting offers.

All initial offers are low, simply because that's what happens in a down market....but the most important thing is to get it shown, and work with the buyer when an offer comes in!
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Please don't hesitate to call or email me if you have any questions about any properties in the area. Of course, I can help you with ANY property, it doesn't have to be my listing.
Check out my website http://www.maryblackburn.com/ and you can see all properties that are on the market!!

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Have a fantastic week!
Mary
850-896-5222
Sundance Realty

Happy Valentines Day from Mexico Beach!

Well, we are back to a little warmer weather! Low 70's today!

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I sent out my monthly newsletter last week. If you didn't get it, send me a quick email and I'll forward it to you!

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I am just really encouraged about the amount of activity going on here. Lots and lots of people looking and actually quite a few of them are making offers!!! Several properties under

Prices are obviously becoming reasonable!!

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I'm not a fan of the stimulus bill, but one aspect of it will have a positive effect on real estate.
They are proposing a $15,000 tax credit for purchasers of primary homes. This is not for investors. It must be a primary home (which just means you have to spend an equivalent of 6 months in the house).

There is no income limitations for this tax credit, it is available to ALL primary home buyers.

What is a little sketchy yet is whether it is going to be a tax credit, given to you when you file your income tax or if they are going to allow you to claim that when you close on the house.

I'll keep an eye on it and let you know what develops. It does add just one more motivating factor to buy now.
#1. prices are down.
#2. interest rates are down
#3. $15,000 tax credit

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Does anyone out there use skype??? I'm contemplating putting a skype button on my website. If you have any thoughts PLEASE email me!!!

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The Mexico Beach Gumbo cook-off is this Saturday. Sundance Realty is going to have a booth so please stop by and taste our gumbo!!!!

Speaking of this event...... I have added a calendar to my website with events in the area. I am limited to how much information I can put on the calendar. If you have any questions, please dont hesitate to call/email me and I'll provide you with all the details!

If you have any events you'd like me to add, I'd love to, just give me the information!!!

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Toucan's Restaurant is going to be auctioned off March 15th. That is, if the auction company does not sell it before then. The owner of Toucan's is spending the rest of his life in prison...tax evasion, drug and firearm charges.

If you know of anyone who may be interested in bidding, please have them contact me and I can provide them with all the information.

There are some properties adjacent to Toucan's that are also going to be available for bidding.

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I don't know about you but............I feel most people think they are going to be able to get a steal and a deal if a property is put up for auction.
This is not always the case! Sellers always have the final say as to what they are going to accept. Several auctions have been canceled in the area because the bidding was way too low.

I don't think auctions are the way to go in a down market. My thoughts are it's like going to a flea market, you don't want to pay retail you want it for a bargain basement price! Please feel free to comment and let me know what you think.

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Please don't hesitate to call me anytime if you are already on my email list and have revised your criteria!

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Pass my name around to all your friends and family!

Have a great week and ......................

"Don't compare your life to others'. You have no idea what their journey is all about!!!"

God bless,
Mary

Congrats to the Pittsburgh Steelers!

I'll be totally honest.......I'm not a sports fan. I didn't watch the superbowl. But, being from Pennsylvania, I must say I exude a little extra pride today!!!!

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Four properties put under contract in the last few days just in the Mexico Beach, St. Joe Beach area! All Realtors were showing a lot of property in the last couple of weeks! There has been a definite increase in interest, so if all &*^% doesn't break loose, I'm anticipating a good year.

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I see a principal coming in to play in this market that an investor told me about a long time ago.

Unique properties tend to hold their value more, as well as appreciate more. For instance, if you have 8 houses that are pretty much alike, all 8 of those houses are going to bring pretty much the same price. In this market, if one of those 8 homeowners is pretty motivated to sell and sells it at a steal of a price, then the other 7 homes are pretty much valued at that seller's price. They would have to sell pretty close to the 1st seller's price or wait until the market goes back up.
HOWEVER, if you have a unique property, a one-of-a-kind, whether it be the location, condition, unique features..........then you don't have any comparables. Your property can have its own unique price!

Makes a lot of sense! So, when you are considering purchasing for investment, you need to keep that principal in mind!

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Mortgage rates are at 5-5.3%-- but I think this is mainly for primary homebuyers. But even so, if you can 5.8-6% for a 2nd home that is still pretty good.

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I'll be sending out my monthly newsletter later this week. If you haven't been receiving it and you know I have your email address, its probably being blocked. So let me know and I'll send it another way.
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If you have been receiving emails from me and are no longer interested in buying or selling in this area, please let me know. I will take you off my list---I really don't want to bother anybody--I am not a high pressure real estate agent!!

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All my prayers go out to the families that have experienced that terrible ice storm --it was brutal. I talked to a family from Kentucky just the other day and they said the death toll was around 37 there.

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Have a great week, don't hesitate to call/email me anytime!

Mary
850-896-5222
http://www.maryblackburn.com/

Mexico Beach Florida for January 26th!

Okay, last Monday when I blogged it was COLD! Today it is back to the mid 60's and tomorrow in the low 70's!!! This is my kind of winter!!!

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Some of you have asked about my whiting fishing expedition----it's still on my "to do" list! I've been busy on the sunny days (which are the best days to catch whiting, I've been told) and I certainly don't want to stand on the pier on a cloudy day if I'm not going to catch anything. I'm not very patient!

I've also been working on my house. Chip and I are in a constant renovation mode with our old little house! We work on projects all winter, while he has time to be at my beck and call!!!
Eventually we'll have our perfect little beach cottage finished!!!!

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Let's get to the all important real estate market...............We've got a new property under contract this week---a mobile home sitting on two lots in Mexico Beach, listed at $165,000.
It will be interesting to see what this closes for.

I know of at least 3 offers being made, negotiations still continuing though. I do believe there are a lot of people looking, which is encouraging. These are mostly people who are older, with money, or at least not worried about losing their job!! Investors definitely are looking.

Prices are still coming down. Our pricing has been all over the place which definitely has a negative effect on the buyers. You can't have a single family home, gulf front, listed at $750,000 and then half a duplex, gulf front, listed at $825,000. It confuses buyers!!! Some of those sellers, which have been listed too high, are becoming a little more realistic and are reducing their prices. Those sellers that are listed at reasonable prices just need to be a little patient!

One way to determine a realistic list price is to first determine the land value. Of course, the land value is determined by lots in similar location and size which have sold recently. Then multiply your square footage by the going rate of construction. This rate also depends on location--the closer to the water, the higher the construction costs. But let's just give $85/sq foot back from the water and $110-$120/sq ft for homes close to the water. Of course, this is just an estimate and again depends on size, quality, age, and location!!!

But if you are anywhere in that ball park---I think you have a pretty good selling price!

If you are thinking about selling, I'll be glad to work up a valuation for you!!!

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The mortgage industry is something that directly affects the real estate market. Below is a summary of what's going on there----it's a little wordy but...........................................Brian Robinson, who works with Wells Fargo sent this to me today.


Although home loan rates are very attractive now, the picture could be quite different as some inflationary factors will likely come to light heading into summer. Oil prices may be on the rise as we approach the summer driving season, some of the economic stimulus might begin to take hold, corporate cost-cutting measures could start to bear fruit, and, perhaps most importantly, the Fed will no longer be a buyer of Mortgage Bonds. These are all ingredients in a recipe that could very easily result in significantly higher interest rates this summer...so if you have been thinking about acting on a home loan, do not delay.
But with no hint of inflation in the current market, why would Bond traders be fearful now? Are they listening to strange voices and what did they say? The forward looking markets got an earful from Fed Governor Frederic Mishkin last week...and he's not the only one. Mishkin said that "inflation could come to the forefront, given all of the government programs", and "once the economy recovers, liquidity must be taken out of the markets"...meaning the Fed may need to rapidly hike rates down the road, to control the potential of inflation.
In other news, Stocks around the globe faced heavy selling pressure last week on renewed fears of the deepening worldwide economic slump...and this despite better than expected earnings from Google and IBM, as well as GE meeting earnings expectations. Even with the downward pressure on Stocks which can sometimes benefit Bonds, the mention of the "I" word left its mark, with home loan rates ending the week around .25% higher than where they began.
READY TO MOVE ON THAT HOME PURCHASE OR REFINANCE BEFORE THE LOW RATES GET AWAY? READ THIS WEEK'S MORTGAGE MARKET VIEW FOR A FEW IMPORTANT TIPS ON UNDERSTANDING TODAY'S LENDING CLIMATE, AND KNOWING THE SMART MOVES TO MAKE RIGHT NOW.
Forecast for the Week
Inflation chatter could come around again this week, as the Fed will be holding their regularly scheduled meetings on Tuesday and Wednesday, with their Policy Statement and decision regarding the Fed Funds Rate coming on Wednesday. Remember, the Fed made history last month when they slashed the Fed Funds Rate by .75% to the lowest target range in history of 0% to .25%. The chart below shows an interesting history of the Fed Funds Rate since 1955.
Other potential market movers include Friday's Gross Domestic Product (GDP) Report. GDP is the broadest measure of economic activity, and given the state of our economy, a negative report might not be too much of a surprise. In addition, Thursday's Durable Goods Report (i.e. items that are non-disposable, like cars, furniture, appliances, games, cameras, business equipment, etc) will give us a read on consumer and business consumption and buying behavior. We'll also get a look at the housing market this week with Monday's Existing Home Sales Report and Thursday's New Home Sales Report.
Remember: Inflation is the arch enemy of Bonds and home loan rates, and even the mention of it can have negative ramifications. I will be watching very closely to see how Bonds and rates respond to all the news of the week.
The Mortgage Market View...

The Heat is On
Homes are on sale, sellers are motivated, and interest rates are at historic lows...but may not stay that way, which means it makes sense to get moving on that home purchase or refinance you've been contemplating. But if you or one of your clients is among the smart individuals who are going ahead and taking advantage of the low home loan rates to be had right now, there are a few things to be aware of.
With interest rates at record lows, all lenders in the US have recently seen a sharp increase in loan applications - right at the time that many lenders have cut headcount to save money in a challenging economy. This means that timeframes needed for underwriting, approvals and closing have become longer than normal. Some companies have chosen to actually raise rates just to slow down the volume to a manageable level.
Sound crazy? No crazier than when you go to buy that hot new vehicle...only to find that there is no price negotiation. In fact, you wind up lucky to just pay the sticker price, as the demand usually allows the Dealer to add a markup to the price. And you don't get the car right away; you have to wait on a list for your turn to come up.
Right now, home loans are like that hot new car - but with the timer ticking on interest rates locks, there are a few things you can do to protect yourself.
First, longer lock in time frames than might normally have been considered are a necessity, to ensure that the file has time to be processed, underwritten, approved and closed in time to protect the rate lock in this extremely volatile climate. And that longer, safer lock-in period may be a bit more costly - but it's money well spent. Overall, the mind set here should not be one of greed. Don't try to squeeze every last drop out of rates. If you are within a quarter percent of the lowest rates offered in the history of this country, you did very well. And rates always shoot up higher at a much faster pace than when then dip lower. So if the savings or opportunity make sense - grab it.
Next, responding quickly to requests for information or documentation is important - the faster the file is submitted and approved, the better off we are to keep that great interest rate protected.
Finally, be aware that it may be a smart idea to pay points to gain the best interest rate - and sometimes is even necessary in today's market. Giant mortgage buyers Fannie Mae and Freddie Mac have recently imposed more "risk-based pricing adjustments", meaning that even credit scores and loan to values which in the past would have been considered very low risk, may now be subject to mandated fees by Fannie and Freddie. And based on the way lenders have changed their rate sheets over time, there is now very little "premium pricing", which used to allow options for fees like these, points or other closing costs to be covered in return for a slightly higher interest rate.
Right now is still an excellent time to act, before the great low rates of today get away from us. But let's be smart - call me for information on how we can get started right away.
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That's enough reading for you today!!!

Have a great week and don't hesitate to pass my name and number out to all your friends!!!!

Remember...........Everything can change in the blink of an eye. But don't worry; God never blinks!

Mary
850-896-5222
www.maryblackburn.com
Sundance Realty

Real Estate At The Beach

BRRRRRRR! We've had unusually cold weather last week-----okay, I can handle a day or two of chilly weather, I don't complain when I have to cover up my plants for a night once in awhile, But this is lasting tooooo long! It's supposed to be very cold every night this week!

When the high is only in the upper 40's ---its just too cold! However, I know its all relative. I showed property to a woman from Indiana over the weekend and although I thought it was COLD, she was in flip flops!

This morning, I saw two people walking on the beach, obviously from up north! It was in the mid 30's and the wind was really howling. So I guess I shouldn't complain. I've never had to scrape ice off my winshield!

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We are all showing quite a bit of property! This is encouraging. Not a lot of contracts but the first step is showing people around. There has been quite a surge of new customers finding out about the area and falling in love!

We've had 3 properties go under contract in January so far, all in Mexico Beach.

• A beach side newer townhouse--listed at $343k and advertised as a short sale. I believe its going to sell for under $300,000. This townhouse was purchase pre-construction for $395,000 in 2005!
• A single family home across from dedicated beach, so unobstructed gulf view. Listed at $550,000. I believe the selling price is not too far from the listing price. This will be a great profit for the sellers who are the original owners!
• A gulf front condo, newer, fully furnished listed at $325,000. I believe this is selling pretty close to the list price as well! This condo was purchased pre-construction for $349,600 in 2006!

There are some negotiations going back and forth for some commercial property but no hard facts yet.

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Just to let you know, I've added a calendar to my website. The page is still under construction but you can access it. I am going to put all events scheduled for the area. I am going to include events in Port St. Joe, Cape San Blas, Apalachicola, St. George Island as well as Mexico Beach.

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Congratulations to President Obama. I pray that he makes wise decisions for our country!

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As always, have a fantastic week. Please feel free to contact me anytime if you have ANY questions about buying or selling in Mexico Beach, Port St. Joe, Cape San Blas, Windmark Beach!

Mary
850-896-5222

Mexico Beach Florida Real Estate Blog

I sent out the monthly newsletter last week. In my newsletter I list a few properties that I think are good buys, I give you recent stats on the market and just some miscellaneous information. If you didn't receive it, or haven't signed up for it, send me a quick email and I'll send it to you!
I do only give stats for Mexico Beach and St. Joe Beach. If you are interested in Port St. Joe or Cape San Blas, I can certainly do a quick analysis for you!
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Our weather has been wonderful! Last week it was in the high 70's! It is going to be chillier this week. This morning it was 39 and it supposed to get up to 58. High 50's all week. Not bad for January!!!

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As you know, if you have been keeping up with my blog and newsletters, vacant lots have taken the biggest hit here. Lots that were selling for 200K at the height of the market are now selling for $60K, even as low as $26K ( but that was a unique situation and not likely to be repeated!!!).

Part of the reason lots aren't selling is that vacant lot loans are extremely difficult to obtain now-a-days and the interest rates are high when compared to residential rates. Many banks won't even consider lending on a vacant lot. The few that will require 25-35% down and are quoting interest rates in the 7.25-8.25%!

Cash, again, is King if you are wanting a vacant lot right now! Owner financing is also a great option if you can find a seller who owns his land free and clear!

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Below is an update on the new airport in Panama City. Panama City is relying solely on this airport creating a surge in the real estate market over there. The airport will be much bigger than the one they have now making it accessible to larger aircraft. I'm not sure if it will be a "hub" but it certainly will be on more flight patterns making it easier to get to Panama City.

Construction Update - 12/29/08
by NewPFN on December 29, 2008
Construction at the new Panama City-Bay County International Airport continues to run smoothly and is currently about 3 and a half months ahead of schedule.
The entire project is about 35% complete, with the heavy civil portion, which includes the main runway, approximately 66% complete.
In general, almost 250 workers are regularly onsite each work day. Offsite quarries, asphalt plants, concrete pipe plants, truck drivers and other ancillary activities will normally employ another 350 people in significant activity.
As the terminal construction and utility installation contracts begin to ramp up after New Years, these numbers will increase
The foundation for the terminal building is underway with concrete being placed in the footers. Foundations are also underway for the various support buildings and the air traffic control tower. Concrete is being produced by local plants (offsite).
Approximately 40,000 tons of asphalt has been placed on the project to date. Contractors are currently paving the main apron areas.
Sands and fine aggregates are obtained from local sources while harder aggregates come from mines in Alabama and Marianna, Florida. Asphalt is mixed by CW Roberts in their Freeport and Panama City plants.
Approximately 55% of the main runway’s 15″ concrete paving lanes are now in place.
Aggregates for the concrete are being sourced from local sand quarries and hard rock mines near Perry, Florida. Concrete is being placed by a team of local contractors that includes operators, finishers, and detailers.
To date 5.4 million cubic yards of earth has been moved on the project site.
Approximately 33,000 linear feet of reinforced concrete pipe has been produced locally and installed by the area’s contractors.
Over 40,000 linear feet of high-density plastic underdrains have also been installed.
Other local contractors are involved with providing dewatering pumps, erosion control and grass seeding.
Work on the underground utilities portion of the project is expected to begin on January 5, 2009.

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How will this new airport affect Mexico Beach? There seem to be two kinds of buyers---one group loves Panama City because it has all the restaurants, night life, malls......... The beach is gorgeous over there (if you can find it). The other group is looking for "old Florida". They are trying to escape the traffic, the commercialism, they are seeking only surf, sun, and sand! Those people, once they find Mexico Beach, fall in love and those are our buyers! The more people who come to Panama City will increase the amount of people who venture out and find Mexico Beach! So, ultimately the airport may help the real estate market here in Mexico Beach!

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I had a couple of investors come and look at property this weekend. He confirmed that this is definitely the time to buy, that the world is not coming to an end. He, of course, is dealing with cash. He also is not going to over pay for a property. He is looking for deals. As an investor, he will definitely enjoy the property while it is gathering equity for the next 5 years! He was not concerned with the list price. He was concerned with the sold comps only! He will definitely make some low offers, some will be accepted, some will not!

My point in bringing this up is that those of you who have been coming here for years and have secretly dreamed of owning a place here----please don't miss out. I'm not saying that you have to buy something this week. I am saying, get your ducks in a row. If you have good credit and some disposable income, you really need to be seriously looking. You need to get with your lender and see what you can work afford.

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Please don't hesitate to call me anytime if you have any questions at all about real estate in Mexico Beach all the way to Cape San Blas.

Have a fantastic week!
And remember.....................When it comes to chocolate, resistance is futile!!!!

Mary
850-896-5222
www.maryblackburn.com
Sundance Realty

Happy New Year From Mexico Beach Fl

So far so good in 2009! We've been blessed with 70+ degree weather for the last couple of weeks! We certainly can't complain about this winter weather!

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For those of you who have asked---No, I haven't been whiting fishing yet! I've heard that you have to go when its sunny. They won't bite if overcast! So, of course, on the days where I have time to go, its been overcast!

Chip and I have also been suffering from this killer cold virus that's been going around the area.
A few days of low grade temperature, head congestion, chest congestion, tired........

We are about over it though! You sure appreciate feeling good after being sick for a while!!!

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I just sent out my monthly newsletter. If you didn't get it, its probably because its being blocked, so just let me know and I'll send it a different way!

I have some stats that compare prices from year to year in a pdf file. If you want that file, just let me know and I'll send it to you. I also have an updated list of foreclosures and short sales in the area---really only for the Mexico Beach/St. Joe Beach area. Not a lot of new foreclosures, but if you want that list, let me know!

It's really pretty interesting!

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We've had a lot of showings in the last couple of weeks. A lot of new people to the area as well as a few investors ! That is encouraging! Those falling interest rates are very attractive and
considering God isn't making any more coastline...............................................

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Lots are down to about 60-70K, mobile homes down to around 100K, single family's just under $200K.

Gulf front single family homes start at the list price of $750K ( but about 10% negotiable!!!!!).

Unobstructed gulf view homes are now starting at $329,000---compared to $420K a few years ago!!!

We can pretty much accomodate any price range now!!!

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Interest rates are right around 5% now. Gas prices are about $1.65-1.75!
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February 14 is our annual Gumbo cook off in Mexico Beach. If you THINK you cook a good gumbo, this is the competition to enter!! Always a fun and delicious day in Mexico Beach.

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Our local Express lane in Mexico Beach sold a winning Fantasy Five this weekend. I heard the payoff was $180,000. We don't know if the winner was a local or not! Will let you know when I find out!

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As always, have a fantastic week and don't forget to pass my name out to anybody who might be interested in buying or selling in the area!

Mary
850-896-5222
www.maryblackburn.com

Merry Christmas from Mexico Beach!

Brrrrrrrrrrr, feels like winter here at the beach! Pretty chilly yesterday and today, in the 30's. But we could live in Chicago or Buffalo or in Minnesota, where the wind chill takes it into the MINUS!!!

I remember growing up playing all day long in the snow! Building snow tunnels, making snowmen, making forts and having snow ball fights-------------what great memories! I freeze now when it dips below 50!!!! I really am glad to have those memories though.

Its going to warm back up towards the end of the week!

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I'm done shopping! I've got the presents wrapped and under the tree! I love Christmas!

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I feel obligated to talk at least a little bit about real estate........................We are all showing property quite a bit! I'm not seeing a lot of properties go under contract but you have to start somewhere! I'm even showing the day after Christmas!!!!

The people looking are all end users. My feeling is they want and can probably afford a beach house but all are being extra cautious because of the unknown economic future! I can't say that I blame them! Listening to the news makes ME want to file bankruptcy!!!! And I have been extremely blessed this year----all our investments are either paid for or are generating income, we still have a lot of equity in our home, our cars are paid for, and I am not financially (again , thanking God) stressed, but listening to the news makes me think I am or I'm going to be!
(of course that is not to say, I sure would like to be busier selling some stuff!!!!!!)

As you know I am a huge Dave Ramsey fan! The other night he was saying that this is by far the best time he has seen for a really long time to buy real estate. The only time he encourages someone to take out a mortgage is if they are a first time homebuyer. He did say that if you have money for a down payment---buy a house now!

I definitely promote Dave Ramsey's style of investing----DO IT ONLY IF YOU CAN AFFORD IT! But, if you can afford it---DO IT!

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The least expensive residential townhouse is listed at $99,000!!!! Let's say you can get it for $90,000, you finance 90% at 5.5 % for only 15 years---your mortgage payment is $662 for your beach home!!!!! and of course we go up from there.

You can now buy a lot for $50-$60,000. Building costs are down as well, so lets say you buy a lot for $50,000, build a 1500 sq ft home at $100/sq ft----you've got a brand new custom home for $200,000!!!! Pretty good!

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I pray that every one of you has a blessed Christmas and a safe New Year's. I thank all of you for supporting me, encouraging me, trusting me to represent you in a transaction!

Don't forget to sing Happy Birthday to the King---it is His birthday, you know!

Mary

Mexico Beach Florida

Tis the time of year to be prepared for any weather! 70 degrees one day, 40 the next! We've really had some unusually cold days for so early in the season, but Thank God it doesn't last long!

It's been snowing pretty constantly up north from what I hear!

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I've told my husband I want to fish for whiting ---so I'll give you a report after we actually do it!

Most people assume that we eat a lot of fish because Chip has his charterboat business, but its actually the opposite. His paying customers get all the fish! He rarely has time to go fish for himself, therefore, we rarely have fresh fish for dinner. Sad but true. I've been fish hungry, therefore my request to just fish from the beach!!!

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The El Governor is having a special---$50/night room. 850-648-5757. Gulf front hotel with pool/pool bar.

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Celebrate Safe, Celebrate Twice!!
Once again Mexico Beach will be running free shuttle busses on New Year’s Eve. This year, we will have three buses and they will be going from Port St. Joe, St. Joe Beach and Mexico Beach.
The stops will be:
Amanda’s Bistro
Fish House
Mango Marley’s
Ruby Runrunners
Toucan’s
EL Governor Motel
Lookout Lounge
The Haughty Heron
Thirsty Goat/Port Inn
The busses will be running from 8 PM ET – 3AM ET / 7 PM CT – 2 AM ET
Please stay safe!

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As for Real Estate:
There are going to be alot of people in town for the holidays and we are expecting to be pretty busy. I know that I have several groups of buyers coming this weekend and into next weekend!

I talked to a customer of mine this morning who is extremely optimistic about next spring. With lowered interest rates and declining prices, he feel there will be a lot of activity by spring! He has purchased and sold lots of real estate all over the world and watches things pretty closely!

Potential buyers are often astounded at the negotiating room that are often times built into the list price. Other areas, even Panama City, negotiate only a few thousand dollars. We, in Mexico Beach can negotiate several 10's of thousands of dollars and even 100's of thousands for those properties in the million dollar + range!

It's a shame that this is the case as it causes a lot of potential buyers to not even consider a property because it is listed way above their price range. Properties that are listed at the true market value are being shown and sold much quicker than those who are listing high "just in case" someone wants to overpay!!!!

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Let's talk credit. We had someone come in the office the other day saying they have a 560 credit score. Not a very good score. They told us their lender said as soon as they get it to 580 they would qualify for a 90% loan! 580 is not a very good score either!!!! So, please don't think that banks aren't lending!!!!
Interest rates are right around 5-5.5% for investment properties and even lower for primary residences!

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I have a few Mexico Beach 2009 Calendars left. If you want me to send you one just email/call me with your mailing address. They are nice calendars with local pictures taken by folks just like you----plus it has the local events listed as well.

There are not a lot of new listings on the foreclosures list, but I'll be glad to email that to you as well anytime you request. If you are not on my email list to receive new listings and such, send me a quick email, or give me a call and I'll put you on my list! If your wish list has changed or you are no longer interested in my emails, please let me know!!!!!

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I pray everyone is enjoying the season! Please don't hesitate to call/email me anytime if you have any questions at all about property in this area. Feel free to pass my name, number, website out to all your friends--for I live by referrals!

Merry Christmas and remember the reason for the season!!!

Foreclosures in Mexico Beach

17 Days until Christmas!!!




I love seeing all the Christmas lights. If you haven't driven by the city park next to the El Governor, you must do it! Wiley at the El Gov does a fantastic job!!!

Of course, pictures don't do it justice!

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I just sent out my newsletter for the month of December. If you are not receiving it, please let me know and I'll add you to the list.

If you no longer want to be on that list, send me an email as well and I will remove you from the list! I certainly don't want to pester anyone!!!!

I just took a quick look at the sales for all of 2008---about 25% of them were foreclosures, or short sales or distress sales!!! That's pretty huge for our little area!!!

We have about 15 foreclosures, pre-foreclosure, distress sales on the market right now. If you want an updated list, just let me know and I'll send you one.

Some of these properties are selling at 50% or more of what they were purchased for at the height of the market. The banks are really losing a lot of money!!!

I've blogged before about the foreclosure websites that you can sign up for to receive foreclosure notices. I'm not an advocate of those---why? I have not seen one yet that is really accurate.

For instance, they still list a house in Port St. Joe as a foreclosure, available for sale, that was sold at a courthouse auction several months ago!!! I also have seen a listing of a property on a foreclosure website in which THERE WAS NO MORTGAGE.

You can certainly use it for a reference, but don't rely on the accuracy. The banks are listing the properties with Realtors pretty quickly after the foreclosure takes place, so your best bet is to go ahead and just get updates from your Realtor!

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I find it interesting that Black Friday (the day after Thanksgiving) showed retail sales were up 7.2% over last year--------most are saying that's because people were taking advantage of the drastically discounted prices.

Sounds a lot like real estate, doesn't it!!!!!

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Interest rates are down to 5.5% all over the place, even a tad lower. There has been a rumor that they may go down to 4.5% but most are saying there will be lots of restrictions on this rate.

Still, 5.5 % is pretty good!!!

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Wow, have gas prices been falling!!! I paid $1.59 in Georgia yesterday!!!!! Man, that was nice!

Makes me want to take a road trip!!!!!

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I pray everyone has a happy, healthy, productive week! Be sure to enjoy the Christmas season this year. I know we get overwhelmed with the shopping, traffic, cooking, parties and such, but remember "Jesus is the reason for the season!!!"

I'll be working right up to Christmas Day, so don't hesitate to call if you are interested in buying or selling!!!!

Mary

December in Mexico Beach!

I trust everyone had a wonderful Thanksgiving!

Now its time to get ready for Christmas--------where in the world did 2008 go?



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Our weather was beautiful last week! Shorts and T-shirt if you were out working in the sun. Cooler in the shade though. We had a little rain, which is always needed this time of year, since most of us turn off the sprinklers.



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I'd like to put in a plug for a friend of mine who is starting his own business. Dave Bonar has worked for St. Joe as a construction supervisor. He built his own home here in Mexico Beach and has tons of experience.



THE CARPENTER'S SHOP will do any kind of woodwork, especially custom cabinetry as well as cabinet refacing!! He can also restore, repair, and refinish wood furniture!



Give him a call if you are planning on doing any kind of kitchen renovation----its more economical to reface those cabinets than replace them!



Dave's number is 850-527-8950

You won't be disappointed!



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As for real estate: It was a little slow this week. People were concentrating on family and food!



A short sale closed this week though---what I think was a screaming deal! A newer home, over 2200 sq feet literally a stone's throw to the water and with outstanding water views---------listed at over $480K, purchased in 2005 for $835,000!!! It closed this week for only $350,000!!!



It was a short sale, which means the lender took a substantial hit! Short sales are all different, so it might be the seller is still responsible for the balance of his mortgage or the bank may have let him off the hook completely. Short sales are easier on your credit than a foreclosure!



The house was listed at $480K and somebody had the nerve to offer $350K!!! And the bank took it!!! Not all properties will knock off a whopping $130K but the point is, you have to be bold enough to make the offer. If you have the means to close quickly you have lots of bargaining power!!!



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I will be sending out my newsletter this week which has detailed information on recent sales and good deals!

You never know where a screaming deal is until you make an offer---some sellers are listing their properties now at competitive prices with OTHER LISTING PRICES. However, each seller situation is different. Some may be willing to negotiate a little, some may be willing to negotiate A LOT, but all will negotiate for sure!



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You can now buy a livable home (townhome) within walking distance to the beach for under $99,000. You can buy a livable mobile home within walking distance to the beach for just a little over $100,000. A lot of people wouldn't consider a mobile home, but if your goal is a place at the beach............................you can always use the mobile home as your vacation retreat for a while and then either build, rent or sell! Your first investment here doesn't have to be your ultimate dream house--you may have to build up to that!

At these prices, you really can afford something at the beach!

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In this tight financial market, one thing you must be aware of is your credit score! If you have a 15-20% down payment and a good credit score, you can get financing! I know of a bank that, with 30% down, you can get an interest rate of less than 4.5%!!!!



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Lots of activities in the area this month. Mexico Beach's tree lighting is Sunday the 7th at 5:30. Please bring a new unwrapped toy or canned goods. Festival of trees in Apalachicola through the 13th of Decembeer. The Dixie Theatre in Apalachicola is putting on the production of "The Christmas Shoes" the 6th and 7th!
I'll be posting a calendar of events on my website Next Year----am just beginning to work on it!

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Have a wonderful week and don't hesitate to contact me if you are interested in either buying or selling in the area!

Mary
850-896-5222
www.maryblackburn.com
Sundance Realty

Happy Thanksgiving from Mexico Beach

It seems I always start with an update on the weather so.............it was really cold Friday and Saturday but absolutely gorgeous Sunday! You can't ever really put your t-shirts and shorts away----Of course, my husband Chip, pretty much wears shorts all year round!

It will get sweatshirt weather in the evenings but t-shirts in the day! We'll continue to have a few nights when it gets below 40, but that never lasts long and its always nice to have a chance to wear a new sweater now and then!

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Not much news on the fishing front. Chip hasn't gone out for quite a while. I believe he has one or two trips scheduled but he's pretty much finished up until spring.

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As for real estate: All I can say is ............find a property you like and make an offer.

There is a gulf view newer home that is selling for 28% of the list price. And that is actually more than 50% of what it was purchased for in 2005!!!
It is a short sale, so the bank was ready to get rid of it!

Other recent sales have been anywhere from 15% to 30% off the listing price! The higher the list price the more negotiating room you have! Short sales, foreclosures probably have the most negotiating room depending on how long it has been listed.

You don't know what a seller is willing to take until you make an offer. Some are very ready to sell, some are not, but it's definitely worth a try!!!!

Least expensive residential property is now at $99,000!
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I am still coming across people who say to me "So, are you selling anything at all?" This comment always make me smile! My first response wants to be "So, watching the news are you?" Of course we are selling! We would all have our doors closed and be working at Walmart if we weren't!

This is the time to buy! There are buyers out there! They want the bottom dollar however. And there are sellers that are willing to take that bottom dollar. The hard part is getting them to both agree!!!!

If I said it one time, I've said it a zillion times.............if you can afford to buy a home here, this is the time! If you are planning on keeping that home for the next 5 years or more, this is the time to buy!

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I just wanted to include the link below. During these Holiday times, we can't forget our military who are overseas and putting their life on the line for us. The link below is just an easy way to send a quick Christmas card showing your appreciation the men and women in uniform.

http://www.redcross.org/email/saf/?gclid=CNiYqrCYjpcCFQVuswodSGrE9Q

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Have a wonderful Thanksgiving! Don't forget to tell the cook in your family how much you appreciate them! It's a great time to stop and remember all your blessings also. Every time I look out the window, I thank my God for allowing me to live here at the beach!!!

Mary

November in Mexico Beach, Fl

Brrrr.....supposed to be chilly all week, with it dipping REALLY low at night. Freeze warning Tuesday night! I really, really, really dislike the cold. It does get cold here, the only saving grace is that it doesn't last long! We'll have a few days of really cold weather, and as long as the sun is shining, its bearable. But it will really only last a few days and then it's not so bad!

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On the fishing front---snapper are out but you can still catch grouper. We've had some exceptionally calm water out there lately! You will probably have to go out a ways to catch most of the grouper, but what a better way to spend a day!!!!!

If interested, of course----www.charterboat-missmary.com

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On the real estate front: My newsletter with specific stats will be out the first week of December, but not a lot going on! A couple of gulf front townhouses, short sales, are now under contract, as well as a townhouse off the beach and a single family home-----so there is activity, just not a lot! I'm in negotiations with a couple myself.

Florida is #2 in Foreclosure filings for October. The information is from Realtytrac.com. I've watched this website quite a bit and I don't think its real accurate, but it does give a ball park.
According to Realtytrac 1 out of 157 housing units have filed foreclosure. That is up a whopping 80% over October of 2007. That's pretty staggering!!!!

Nevada is #1 and Arizona is #3 in foreclosures.

On an encouraging note, the Mortgage Bankers Association said applications for new mortgages are up 11.9% for the week of November 7th.

Which is certainly understandable-----the foreclosures are up, which means the prices are down, so the buyers are buying!!!!

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I know in our little area here, the foreclosures are not primary homesteads, they are investment properties gone awry!
There are deals out there!

Not a great time to sell-------UNLESS--you've owned the property a long time, in which case you still have great equity! If that is the case and you want to sell, then it must be listed at a realistic price and it will sell!!!!!

Great time to buy as some prices are back down to 2001-2002 pricing!

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Well, I pray everyone has a great week. I know that there are a lot of people who are worried about their jobs and the economy in general. I certainly pray for all Americans and the President, especially in these times. Please keep the faith!

Mary

Mexico Beach, Florida

Brrr........45 degrees this morning---however, it will be in the 70's this afternoon. This is the time of year when you have to dress in layers!
It's been just beautifully sunny though!

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Not a lot going on in the real estate world, its been pretty slow. I sent out my newsletter with specific stats last week. If you are not on my list for the newsletter or did not receive it last week, let me know!

We still have some "end-users" buying simply because the prices have dropped considerably. End-users (people who are buying to USE for the next 10 years or so) have typically been our market. These type buyers are still looking and buying. The "flippers" are pretty much gone, although I know they are looking and ready to buy if a 'STEAL" comes up.

I know that a lot of buyers are still sitting on the fence, waiting to see if the market has bottomed out. I'm not sure that we will know that until its been here and gone.

Steve Forbes (of Forbes magazine) was on Fox news the other day saying he believed the market will turn around soon and we will start to see some real activity spring of 2009. Others say 2010!! So, in otherwords ........... who knows!

Sellers are desperate for activity. Buyers..........this will mean sellers won't be as negotiable.

Sellers are extremely negotiable right now. One can not be afraid to offer what you are willing to pay!

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I have an updated list of foreclosures and short sales. If you would like this list, give me a call or email.

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As for the credit crunch............Banks are lending! The media acts like no one is able to get credit, not true. You do have to have good credit though! Bankers are still lending even at 95%. If you are interested in purchasing and haven't checked your credit lately, you may want to take a look and clear up any errors or problems!
I even have a banker who will now lend on single wide mobile homes!

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I pray that the transition to the new President will be smooth and take great comfort in the fact that God is still on his throne---he's the only One I have faith in!!!!!!!

Have a great week and please don't hesitate to call or email me!
Mary

Mexico Beach Florida Real Estate

We are having our typical fall weather now! Cool in the evenings (50's) and absolutely, stunningly gorgeous in the day---upper 70's. The water is calm and beautiful. We still have some swimmers on the weekend---the water is a little too cool for me but......................

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We had several first time Mexico Beachers stop by the office this weekend! They raved about how quiet and low key it is and remarked how it is the exact opposite of what Panama City Beach has become. This is a typical response from people who have not visited us before. We really are like a pleasant step back in time!!
We may have to drive 40 minutes to eat at "Outback" or shop at Dillards, but its a small price to pay when you look at at that ocean and drive down Hwy 98 without a stop light for miles and miles! Not to mention the wonderful people here!
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As for the real estate market. Prices are continuing to decline. We just closed on an 1800 sq foot home for $160,000! Not a foreclosure, not a short sale, not a distress sale. EVERYONE was happy with this transaction, buyers and sellers alike. The home could use a little updating but could easily be lived in for the next 20 years without doing a thing!

I will be sending out my monthly newsletter with specific stats this week.

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My blog is short this week because I just mainly want to say

BE SURE TO VOTE!!!!

As much as I want to, I will refrain from spouting my political viewpoint. Suffice it to say
I pray you will vote your faith, your conscience, and your common sense!

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Have a fantastic week!
Mary

Home Sales up Nationwide!

I always like to update you on the weather as I know I have a lot of Northern readers!! This weekend we were in the mid 50's at night (freezing to me!) but warming up beautifully, high 70's, low 80's in the middle of the day! This week, however, its only supposed to get in the mid 60's during the day and mid 40's at night!! Yikes---takes me a while to get used to those COLD temps!!!!
This time of year, though, it changes weekly----could be back up in the 80's the following week! (I'm hoping!).

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Don't forget to turn your clocks BACK this coming Sunday, November 2.

I understand the rationale---school kids waiting for the bus in the dark-----but, man-0-man, I don't like it when it gets dark at 5:00 in the afternoon!!! I'm the type of person who requires a lot of sunlight! I think its time to go to bed when it gets dark!!!

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As for real estate:
It seems that for the first time in 3 years, existing home sales in Florida rose 24% in September!!!! Of course, this is due to the declining prices. Florida's median sales price is $175,1,00, a year ago it was $224,700. The interesting thing is that in Sept of 2003, the median sale price was $158,800---meaning there has been a 10.3% INCREASE in that 5 year period. Proving my point that real estate is a LONG TERM INVESTMENT!!!! That being said, that is the case in a normal market. The year when we hit this "abnormal" high, selling old mobile homes for $300,000+ might be different. I'm not sure that you will have a normal rate of appreciation in 5 years in that case, maybe 10 years???

I will have more stats on the local real estate sales in my newsletter which I will be sending out next week. I can tell you that we are pretty much in line with the state wide stats though.

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The Appalachicola Seafood Festival is this weekend. www.floridaseafoodfestival.com
Port St. Joe has its downtown trick or treating this Friday. It's sooooo much fun to see all the kids in their costumes!

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I pray everyone has a wonderful week. Don't forget to vote November 2nd!

Mary

Perfect Weather in Mexico Beach

Wow! Fall hit this weekend! Rather chilly (high 50's) at night and warming up to high 70's in the afternoon! I love it when I can turn that AC off and open up my windows!!!!

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Chip had a great fishing weekend. Caught his limit of snapper very quickly and not far off shore at all! A grouper and kingfish here and there! Snapper are off limits the end of this month though!

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The Art and Wine Festival was a success this past Saturday! Lots of gorgeous artwork displayed! The setting of the Driftwood right on the beach is wonderful and the weather was beautiful! Good wine, good food, great people and great artwork! The auction is always fun to watch, better yet if you participate though! The proceeds go to the fireworks fund for the 4th of July----always a huge event!!!!

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As for real estate: A couple of properties went under contract in the past few days!! It's the SELLING prices that make me think we are at the bottom or very close to the bottom. The list prices are still all over the place, but its those brave souls with CASH or ready to go financing, that are getting some good deals!
I don't post specifics on my blog, I do that in my newsletters.

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DON'T FORGET TO VOTE NOVEMBER 4!!!!

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Have a great week and don't hesitate to call or email me if you have any questions about buying or selling anywhere from Mexico Beach to Port St Joe to Wewahitchka!

Mary

October 15 Mexico Beach Fl

Unbelievably we are already nearing the end of 2008! Where did the year go! I don't quite understand why "time flies" the older you get! (not that I'm implying that I'm old or anything!)

I just received an email from a friend of mine who is spending the next 6 months in HAWAII!!
She said Hawaii is not like it used to be, said it was loud, which she was having trouble with after living in Mexico Beach the last couple of years!!! I thought that was interesting!

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The Art and Wine Festival is this Saturday and if you haven't been----you need to come! The artwork is really great and the atomsphere is wonderful. 2:00-9:00 central time at the Driftwood Inn.

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Snapper fishing is closed the end of this month. Chip loves to fish in October, its much cooler and the fishing is great! He's been catching limits of Snapper, and even quite a few grouper on 6 and 8 hour trips!

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Just an update on the new Sacred Heart Hospital being built in Port St. Joe.
http://www.sacred-heart.org/WhatsNew_Tree/article.asp?NID=846

They have started construction and it is still proposed to be open in the fall of 2009.
We are all looking forward to this as it will not only provide much needed services in the area but also provide some new jobs!
The new hospital will be a community hospital with private rooms, an 24-hour emergency department and operating rooms
A full complement of diagnostic and laboratory services
A medical office building with space for primary care and specialty physicians, as well as various outpatient services
A helipad to be used by Sacred Heart's AirHeart helicopter, providing rapid transport for trauma patients and other critically-ill patients

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Wow! Those gas prices! We are at $2.99 for regular here in Mexico Beach. I know folks in Georgia were having distribution problems as well as high prices.
However, we never had problems getting fuel down here.
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As for real estate: Six properties have been put under contract in the last couple of weeks!! Please remember I'm talking about Mexico Beach and St. Joe Beach only, a really small area, so that's not bad! Of course there are over 250 active residential properties on the market, that's not so good! My point is that there are people buying! There are a lot looking to buy!
We all thought 2007 was slow, but looking at the sales for 2007---there were 91 residential sales Jan-September in 2007. We only have 58 residential sales thus far in 2008. YUCK!
The average sale price in September 2007 was 229,683!!! The average sale price this September was $172,333!!!

My November newsletter will give some more comparative stats!

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As for the credit crunch.........We haven't had any experience down here with buyers having difficulty getting financing. Yes, they may be requiring 10-20% down and perhaps they are requiring a good credit score, and hopefully they are verifying income a little more---------but isn't that the way it is supposed to be??? My point is, if you can afford to buy, you can get financing!

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Well, I hope everyone is enjoying the cooler weather! As always, don't hesitate to call me if you are interested in buying or selling down here! My website has, not only my listings, but all properties on the market under property search---I can help you with any of them!

Go to church this Sunday and Have a great weekend!

Mary
850-896-5222
www.maryblackburn.com

Happy October

Happy October from Mexico Beach, Florida!

Our weather has been beautiful! Cooler in the evenings and warming up nicely in the afternoon!
I love this time of year! It's so pleasant to work in the yard and walk on the beach and not sweat the entire time!!!

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I just sent out my monthly newsletter with the real estate stats for the month of September, so I am not going to reiterate, other than to say, its been slow!!!

My take on the market though----ITS GOING TO GET BETTER! Don't know when, but its going to!!!

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Fishing is good! Chip had a good box of grouper and snapper just a few days ago! And its sooooooo much more pleasant when its not so blasted hot!!!

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My take on the economic bail out: www.daveramsey.com

He proposes a plan called THE COMMON SENSE FIX. Can you imagine the government doing anything that exhibits common sense???

Anyway, check out Dave's plan.

Basically and in my own words:
#1. Insure those subprime mortgages. The lenders must re-write the mortgages to have a fixed rate. Hopefully, this will allow those homeowners to hold on!
#2. NO GOLDEN PARACHUTE FOR ANYONE!
#3. Remove Mark to Market accounting for awhile.
#4. REMOVE CAPITAL GAINS

Dave, of course, explains each of these propositions.
He also asks that we send this plan out to our senators and representatives (which I've already done this morning!)

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Again, I am asking for donations for the alzheimer's fund---my sisters and I are doing a walk to raise fund for research for this horrible, horrible disease. My dad suffered from this for many years.
If you can contribute, I will forever be grateful!
Her website, where you can download a form or transact it on line is
https://www.kintera.org/faf/donorReg/donorPledge.asp?ievent=274342&lis=1&kntae274342=60DC390AC05848B3A0590EF42711B036&supId=232479789

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Lots of events going on in Mexico Beach and the surrounding areas for October. The Art and Wine Festival in Mexico Beach is October 18.
Golf tournament in Port st joe October 11, Octoberfest at Windmark Beach the same day.
Trick or treating downtown in PSJ on Halloween as well!!!

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As always, go to church on Sunday, have a fabulous week and weekend and give me a call if I can be of any service to you!

Mary